Global grain trader Viterra is in talks to merge with U.S. rival Bunge Ltd , a person familiar with the matter said, in a potential mega deal that would reshape the top tier of global grains merchants.
Bunge Ltd logo is seen displayed in this illustration taken, April 10, 2023. REUTERS/Dado Ruvic/Illustration, a person familiar with the matter said, in a potential mega deal that would reshape the top tier of global grains merchants.
Bunge last year was the largest corn and soy exporter from Brazil, the world's top source of the staple crops for making animal feed and biofuels, according to data from shipping agent Cargonave. Viterra was the third largest corn exporter and No. 7 soybean shipper. Global commodities merchants have built up cash reserves after turning in hefty profits over the past year as Russia's invasion of Ukraine disrupted shipments and crop prices soaring.
Viterra, formerly known as Glencore Agriculture, made the headlines in 2017 for a failed takeover approach to Bunge, one of the giant names of global grain trading, then valued at $11 billion.to discuss "a possible consensual business combination."
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